Goldman Skates

Goldman Sachs settled a huge civil complaint by the Securities and Exchange Commission over a questionable investment arrangement with a hedge fund. The sum represents a near record for the SEC and chump change for the banksters... A tiny cost of business as usual.


Video: Newsy.com

"Even though $550 million may sound like a lot, it's really not a lot compared to what people were talking about in speculation."
-— Louise Story, finance reporter: The New York Times.

Story's reporting was integral to the SEC's initial investigation into the firm. She says that Goldman's big win in the settlement is the legal cover it provides against potential private class-action lawsuits.

Audio Embed: PRI & WNYC's program The Takeaway 7/16/10, Host: John Hockenberry with Miles O'Brien, ex-of CNN, not Star Trek.